SMIN vs. FAAR
SMIN (iShares MSCI India Small-Cap ETF) and FAAR (First Trust Alternative Absolute Return Strategy ETF) are both exchange-traded funds - SMIN is a Asia Pacific Equities fund tracking the MSCI India Small Cap Index, while FAAR is a Commodities fund actively managed by First Trust. SMIN is passively managed, while FAAR is actively managed. Over the past 10 years, SMIN returned 10.04%/yr vs 4.74%/yr for FAAR. At a 0.05 correlation, their price movements are largely independent. SMIN charges 0.76%/yr vs 0.95%/yr for FAAR.
Performance
SMIN vs. FAAR - Performance Comparison
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Returns By Period
In the year-to-date period, SMIN achieves a -0.69% return, which is significantly lower than FAAR's 20.28% return. Over the past 10 years, SMIN has outperformed FAAR with an annualized return of 10.04%, while FAAR has yielded a comparatively lower 4.74% annualized return.
SMIN
- 1D
- 1.58%
- 1M
- 4.56%
- YTD
- -0.69%
- 6M
- -0.59%
- 1Y
- -3.27%
- 3Y*
- 9.62%
- 5Y*
- 7.69%
- 10Y*
- 10.04%
FAAR
- 1D
- 0.31%
- 1M
- -4.57%
- YTD
- 20.28%
- 6M
- 20.86%
- 1Y
- 26.92%
- 3Y*
- 10.85%
- 5Y*
- 8.03%
- 10Y*
- 4.74%
SMIN vs. FAAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMIN iShares MSCI India Small-Cap ETF | -0.69% | -6.68% | 16.78% | 35.41% | -14.23% | 44.43% | 19.59% | -5.21% | -25.55% | 62.36% |
FAAR First Trust Alternative Absolute Return Strategy ETF | 20.28% | 8.07% | 5.97% | -5.63% | 10.15% | 12.34% | 8.60% | -1.28% | -9.17% | 5.00% |
Correlation
The correlation between SMIN and FAAR is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since May 23, 2016 | 0.05 |
The correlation between SMIN and FAAR shifts across timeframes, from -0.15 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SMIN vs. FAAR — Risk / Return Rank
SMIN
FAAR
SMIN vs. FAAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India Small-Cap ETF (SMIN) and First Trust Alternative Absolute Return Strategy ETF (FAAR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SMIN | FAAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.25 | ||
| Sortino ratioReturn per unit of downside risk | -3.10 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.34 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 4.72 | -4.90 |
| Martin ratioReturn relative to average drawdown | -0.41 | 14.40 | -14.81 |
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Drawdowns
SMIN vs. FAAR - Drawdown Comparison
The maximum SMIN drawdown since its inception was -60.50%, which is greater than FAAR's maximum drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for SMIN and FAAR.
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Drawdown Indicators
| SMIN | FAAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.50% | -18.03% | -42.47% |
Max Drawdown (1Y)Largest decline over 1 year | -24.54% | -5.68% | -18.86% |
Max Drawdown (3Y)Largest decline over 3 years | -27.58% | -11.54% | -16.04% |
Max Drawdown (5Y)Largest decline over 5 years | -27.58% | -18.03% | -9.55% |
Max Drawdown (10Y)Largest decline over 10 years | -60.50% | -18.03% | -42.47% |
Current DrawdownCurrent decline from peak | -13.15% | -5.39% | -7.76% |
Average DrawdownAverage peak-to-trough decline | -14.62% | -7.83% | -6.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.08% | 1.87% | +9.21% |
Volatility
SMIN vs. FAAR - Volatility Comparison
iShares MSCI India Small-Cap ETF (SMIN) has a higher volatility of 5.32% compared to First Trust Alternative Absolute Return Strategy ETF (FAAR) at 2.50%. This indicates that SMIN's price experiences larger fluctuations and is considered to be riskier than FAAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMIN | FAAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.32% | 2.50% | +2.82% |
Volatility (6M)Calculated over the trailing 6-month period | 15.80% | 9.71% | +6.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.78% | 13.36% | +5.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.91% | 12.95% | +5.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.83% | 11.53% | +11.30% |
SMIN vs. FAAR - Expense Ratio Comparison
SMIN has a 0.76% expense ratio, which is lower than FAAR's 0.95% expense ratio.
Dividends
SMIN vs. FAAR - Dividend Comparison
SMIN's dividend yield for the trailing twelve months is around 2.03%, less than FAAR's 9.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAAR First Trust Alternative Absolute Return Strategy ETF | 9.57% | 11.63% | 3.45% | 3.20% | 5.82% | 6.49% | 3.05% | 1.02% | 0.58% | 2.83% | 0.00% | 0.00% |
SMIN iShares MSCI India Small-Cap ETF | 2.03% | 2.01% | 6.84% | 0.41% | 0.01% | 1.27% | 1.06% | 1.75% | 1.68% | 0.89% | 2.30% | 0.93% |
Frequently Asked Questions
SMIN and FAAR have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMIN has higher volatility (5.32%) compared to FAAR (2.50%). In terms of maximum drawdown, SMIN dropped -60.50% vs FAAR's -18.03%.
On 10-year performance, SMIN leads with 10.04% vs 4.74% for FAAR. On fees, SMIN is cheaper at 0.76% per year. On volatility, FAAR has been the lower-risk option at 2.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SMIN has performed better with a 10.04% return vs 4.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMIN is cheaper with a 0.76% expense ratio, compared with 0.95% for FAAR.
FAAR has the higher dividend yield at 9.57%, compared with 2.03% for SMIN.
SMIN is categorized as Asia Pacific Equities, while FAAR is Commodities. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.76% for SMIN and 0.95% for FAAR.
FAAR currently has the higher Sharpe Ratio (2.01 vs -0.24), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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